FOR IMMEDIATE RELEASE
Spotlight on Employee Benefits and Perquisites in 2020
Results of Annual Inventory of Total Rewards Programs & Practices
December 9, 2020 — Scottsdale, Ariz. – This year saw a significant increase, compared to 2019, in employer-offered telemedicine, paid and unpaid caregiver leave, tuition discounts and hazard pay, among other benefits and perks, and a decrease in bonuses (spot, project completion, sign-on, retention), discount programs, and internships, among other offerings. The 2020 Inventory of Total Rewards Programs & Practices provides a comprehensive review, and serves as a benchmark, of Total Rewards benefits and perks employers use to attract, engage, and retain top performing employees. This year, questions related to COVID-19 expense reimbursements, pay equity adjustments, and online fitness programs were added. Additional data cuts, including number of employees, industry, and sector, have also been added. The survey encompasses health and welfare, pay for time not worked, unpaid time off, retirement, insurance, base pay, incentives, recognition programs, development opportunties, cultural initiatives, community involvement, financial wellness, and workplace flexibility.
Sample findings:
• 27% of employers say they offer internet service, 49% offer office supplies, and 23% offer office furniture to remote employees
• 80% of employers stated that employees are eligible for pay equity adjustments
• The number of reported Diversity/Inclusion initiatives rose from 65% in 2019 to 76% in 2020
• Increases, as compared to 2019 and likely due to COVID-19: telework opportunities; well-being programs; telemedicine; childcare resources
• Decreases, as compared to 2019 and likely due to COVID-19: market-based pay adjustments, not COLA (down 11%); bonus programs; fitness club memberships; in-person events; internships (down 7%).
